Dutch Insurance Exchange Association

VNAB Sanctionpl@tform

Under the Sanctions Act 1977 [Sanctiewet 1977] insurers and brokers are required to conduct due diligence reviews of their (prospective) business relations. The insurer for one is not allowed to pay any amount of claim to an organisation involved in terrorism. These reviews require a lot of time, money and manpower. That’s why the VNAB, the sector organisation for the corporate insurance market, launched the Sanctionpl@tform on 7 March 2016. This online platform allows the insurance market to comply with the Sanctions Act and regulations in a fast and cost-efficient way.

The VNAB Sanctionpl@tform identifies (prospective) business relations and checks them against the sanction lists. The standardised and computerised operation of the online application facilitates efficient and effective Sanctions Act-compliant reviews. All these reviews are stored on the platform and are accessible by co-insurance market parties.

The rules are laid down in the Sanctions Act Protocol, which sets out how the Sanctions Act is implemented sector-wide.

Customer Due Diligence and Transaction Due Diligence support

The VNAB Sanctionpl@tform is the only platform that fully supports the conduct of Customer Due Diligence (CDD) and Transaction Due Diligence (TDD) reviews under EU and US regulations. The platform is web-based and designed to be used for co-insurance, authorised underwriting and non-bourse policies, and accessible by both members and non-members of the VNAB.

In collaboration with Fenêtre Online Solutions in The Hague, the VNAB developed the user-friendly, fast and secure platform with a modern design. The platform can be linked to individual back offices via webservices.

Global UBO information   

The platform supports the automated search and checks organisations and their Ultimate Beneficial Owners (UBOs) against the sanction lists. Precondition for its use is a contract between the user’s organisation and Dun & Bradstreet (D&B).

The VNAB signed a master agreement with D&B, which not only allows members to identify UBOs but also offers them the possibility to extend and update their own customer data base and check the creditworthiness of new and existing customers. The master agreement is designed as a so-called cafeteria model. Its advantage being that members profit from a substantial VNAB-wide purchase discount, and also have the option to conclude a tailor-made contract with D&B.  

Monitoring

As of June 2018 only automatically completed IDE (Identification) tasks/ CDD reviews are placed in monitoring. As a result these reviews have no expiry dates but instead expire once a change takes place in the Graydon and/or D&B database. A review with a manually supplied UBO, is not placed in monitoring and gets a standard expiry date. Monitoring is available for the following countries:
Belgium, China, Germany, France, French Guiana, Guadeloupe, Ireland, Italy, Luxemburg, Martinique, the Netherlands, Austria, Portugal, Réunion, Spain, United Kingdom, Switzerland. 

The Sanctionpl@tform functionality development is an ongoing process. For more information about the Sanctionpl@tform (and other VNAB applications), please go to Help.VNAB.nl. Here you'll also find the release planning of scheduled developments. Is your organisation interested in the use of the VNAB Sanctionpl@tform? Please contact Theo van Endhoven for more information.

ISAE 3000D certification

The Sanctionpl@tform application has been certified in accordance with the ISAE 3000D standard. Mazars carries out the annual audit. Click here to view the confirmation of the certification in English.

Ondersteuning van cliëntenonderzoek en risico-onderzoek
Het VNAB Sanctiepl@tform is het enige platform dat de uitvoering van het cliëntenonderzoek (Customer Due Dilligence: CDD) en risico-onderzoek (Transaction Due Dilligence: TDD) van de EU en US verordeningen volledig ondersteunt. Het platform is web-based en bruikbaar voor zowel coassurantie, volmacht als provinciale posten en toegankelijk voor zowel leden als niet leden van de VNAB.

In samenwerking met Fenêtre online solutions uit Den Haag ontwikkelde de VNAB het platform dat gebruiksvriendelijk, snel en veilig is en over een moderne uitstraling beschikt. Het platform is daarnaast via webservices te koppelen aan de eigen backoffice.

Wereldwijde UBO informatie                                                                                                      
Het platform ondersteunt het geautomatiseerd uitvragen en controleert de organisaties en de uiteindelijk belanghebbende persoon achter de organisatie (de Ultimate Beneficial Owner: UBO) tegen de sanctie¬lijsten.
Randvoorwaarden voor het gebruik zijn een contract tussen de eigen organisatie en D&B.

Heeft uw organisatie ook interesse om gebruik te maken van het VNAB Sanctiepl@tform? Neem dan contact op met Theo van Endhoven voor meer informatie.

Road to compliance
Instructie Sanctiepl@tform
Support Sanctionpl@tformSanctionpl@tform+31 (0)10 253 20 05sanctie@vnab.nl
Help.VNAB.nl